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UBA, Stanbic IBTC Explains Delay in Releasing Half Year Results 

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Two major Nigerian banks UBA and Stanbic IBTC, whose half year 2020 audited results are being expected by the markets have explained why the results are being delayed.

According to Stanbic IBTC Holdings, the delay is occasioned by the fact that they are currently seeking the approval of the primary Regulator, the Central Bank of Nigeria (CBN) for the Half Year Audited Financial Statements, following which the said Financial Statements will then be released to the Market.

“We are working diligently to ensure that our Company’s 2020 Half Year Results are published on or before Friday 25 September 2020,” the firm said in a statement signed by Chidi Okezie the Company Secretary.

United Bank for Africa also notified the Nigerian Stock Exchange (the Exchange), shareholders and the investing public of the delay in the filing of its Audited Financial Statements for the Half Year ended June 30, 2020 within the extended regulatory filing deadline.

UBA said the Audited Financial Statements are still undergoing necessary regulatory approvals. However, the Bank is optimistic that the Audited Financial Statements will be submitted to the Exchange on or before September 29, 2020.

Other lenders like Guaranty Trust Bank and Zenith and Access have also not released half year 2020 results.

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